Prospects of Artificial Intelligence in Financial Sector in Uzbekistan

Azizbek Tokhtabaev; Ibrohim Yusopov; Che Zalina Zulkifli

doi:10.29138/ijebd.v8i6.3455

Azizbek Tokhtabaev Tashkent University of Information Technology, Uzbekistan
Ibrohim Yusopov Tashkent University of Information Technology, Uzbekistan
Che Zalina Zulkifli Sultan Idris Education University, Malaysia

DOI: https://doi.org/10.29138/ijebd.v8i6.3455

Keywords: artificial intelligence, financial analysis, Uzbekistan, banking, fintech, digitalization, credit risk, fraud detection, forecasting, regulation

Abstract

Purpose: The paper discusses the usage of artificial intelligence (AI) in financial analysis in Uzbekistan, highlighting the potential benefits and challenges of AI adoption in the country's financial sector.

Design/methodology/approach: The paper compares Uzbekistan's development to global experience, analyzing the current state of AI adoption in financial analysis, and identifying the major obstacles to its implementation.

Findings: The findings indicate that AI has positive aspects in credit risk, fraud detection, and prediction. However, the major obstacles to AI adoption are infrastructure, regulation, and literacy. The paper proposes a gradual hybrid approach, combining regulatory support and fintech innovation, to allow systematic integration of AI.

Paper type: Research paper